Just recently, we came across a rumour, claiming Apple was interested in purchasing Beats Audio for $3.2 billion (around £1.89 billion). Now it’s official. The Cupertino firm now owns Beats Audio.
Rapper Dr. Dre, one of Beats Audio’s co-founders, announced the deal pushing through on actor Tyrese Gibson’s Instagram page. Gibson writes, “Tonight HIP HOP CHANGED FOREVER AND I WAS THERE TO PAY MY RESPECTS!!!!!! Apple = Beats 3.2 BILLION!!!!!! The night everything changed!!!!#Inspired Whoa!!!!!”
Included in the deal is Beats Music, Beats Audio’s music streaming service, which was a direct competitor of Apple iTunes Radio. It will now be joining Apple’s iTunes division.
This is by far Apple’s biggest acquisition.
The deal has also made Dr. Dre the first billionaire rapper.